Homework Answers
Answers:-
Q2) option (B) an owner and internal user of East company's Accounting information.
Analysis:- one who owns the stock are stockholders in the company, and stockholders are the owners of the company.
The internal users of accounting include all individuals within the company who utilize financial information in making decisions for the business.ultimately the owners are the internal users.
Q3)option (C) The financial statements are a fair presentation and comply with GAAP in all material respects
Analysis:- The Auditor gives an unqualified audit opinion when the financial statements represents fair and appropriately presented,and comply with GAAP in all material aspects.
A clean audit report is called 'unqualified'
To be precise, Unqualified opinion is used when the Auditor wants to convey that he has a positive opinion about the financials as a whole without any limitations.
Hope this helps you, Thank you!?
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